Investments for Scaling Adaptation Solutions in Nigeria

An adaptation-focused technical deep dive will be conducted at COP28 to identify further sustainable measures for building resilience in Nigeria through the Africa Adaptation Acceleration Program’s pillars of focus

Event description

Nigeria has identified nine sectors as most vulnerable to the impacts of climate change, set out in its National Climate Change Policy and Response Strategy. These sectors requiring climate adaptation investments, span from agriculture and food security to energy and infrastructure, to water resources and coastal areas, among others.

The Africa Adaptation Acceleration Program (AAAP) Upstream Financing Facility is supporting the realization of the country’s climate adaptation vision, by mainstreaming adaptation interventions into the investments of Multilateral Development Banks in the agriculture, energy, and infrastructure sectors, while supporting the creation of jobs for youth.

In a bid to further strengthen Nigeria’s climate change adaptation needs, the AAAP has also developed a first-phase climate adaptation country compact which provides a concerted solid foundation for decision-making, resource allocation, and greater investments in adaptation projects and programs. This Compact has outlined opportunities for adaptation investments at the sectoral level as well as existing adaptation projects with the potential to be scaled up with adequate funding.
 
To identify further sustainable measures for building resilience in Nigeria through the AAAP’s pillars of focus, an adaptation-focused technical deep dive will be conducted.

Objectives
The investments for Scaling Adaptation Solutions in Nigeria deep dive, will provide the platform to exchange on further opportunities to strengthen climate adaptation investments in the country. This will entail:

• Sharing key results of the AAAP’s investments in the country and how this is enhancing Nigeria’s resilience to climate change
• Providing a platform for donors and development partners, to assess the opportunities for support to climate resilience for Nigeria through the AAAP
• Providing a platform for multilateral, national development banks, and International financial institutions to identify collaboration opportunities on the AAAP to strengthen Climate Resilience for Nigeria

The outcomes of the dialogue would be captured into a summary document and roadmap for collaboration with Nigeria on the AAAP going forward.